TML has announced a market update, see below. The TML range of products are available through our direct to lender mortgage club and our fees free packager. Contact us to see how you can benefit from our club or packaged support.
View their latest product and criteria here.
Announcement
Use of AVM supports BTL remortgage in just five days
The Mortgage Lender (TML) recently supported a remortgage case through our Automated Valuation Model (AVM) in just five days.
The customer, who holds 44 buy-to-let (BTL) properties in their portfolio, was seeking to remortgage on one of their properties. Rather than having to perform a physical valuation of the property, we used the new AVM process, using a computer algorithm to estimate the value of a property at a specific time. This meant the application could be progressed in just 5 days and the tenants in the property did not have to be disturbed for the valuation appointment to be completed.
Working with the mortgage broker and with the support of our team, we were able to offer a 75% LTV of £313,500 on the property. Read the full article here